South Korea Tightens Capital Flow Checks to Catch Tax Dodgers

South Korea is strengthening supervision of foreign exchange transactions as President Park Geun Hye broadens her country’s part in a global crackdown against tax evasion.

IMF Staff Rejects Audit Findings on Foreign Reserve Focus

The International Monetary Fund staff rejected criticism by an internal auditor that the organization focused too much on countries’ foreign assets accumulation and said the report “misconstrues the motives of the fund.”

South Korea resumes Iranian oil imports: Report

SEOUL: South Korea has resumed imports of Iranian crude oil after halting them in July due to Western sanctions targeting Tehran's nuclear programme, a report said today.

Korean Won Drops on Concern Mideast Tensions Will Derail Global Recovery

South Korea’s won fell to its lowest in more than a week on concern rising fuel prices caused by escalating tensions in the Middle East will derail the global economic recovery, hurting exports. Government bonds advanced.

Foreign investors sold more Korean stocks than they bought for the first time in four days as security forces in Libya, holder of Africa’s largest oil reserves, attacked anti- government protesters following ousters of leaders in Tunisia and Egypt. The Kospi index of shares sank to a two-month low as crude oil climbed to the highest level since September 2008. Stock prices of builders slumped the most since 2009, led by Hyundai Engineering & Construction Co., on concern orders will fall as Korean construction sites were attacked in Libya.